Security Service FCU, Kilowatt FCU Merger Now Official
SAN ANTONIO -- The $4 billion Security Service Federal Credit Union has officially merged with Harlingen-based Kilowatt Federal Credit Union.
In an effort to benefit both organizations, SSFCU and KFCU joined operations to provide expanded services to their members. As a result of the merger, SSFCU has acquired 2,100 new members, approximately $9 million in assets and two locations in the Rio Grande Valley area.
"This is a strategic merger that allows both credit unions to expand their resources and provide additional service to their respective memberships," said SSFCU Senior Vice President John Worthington. "We are pleased with this positive new partnership and are glad to welcome Kilowatt
FCU members into the
SSFCU acquired the Diocese of Corpus Christi Federal Credit Union in Corpus Christi and New Horizon Community Credit Union in Denver in June 2007. Additionally, the credit union recently announced plans to expand its presence in the Texas Coastal Bend area by merging with Horizon Credit Union based in Portland, Texas.
While, the merger with Kilowatt Federal Credit Union became effective August 1, 2007 and SSFCU officially assumed operations under a management agreement on June 29, 2007, final approval for the merger was only recently received from the NCUA.